Industrial production in Brazil falls 2.4% in March, says IBGE

Brazilian industry ended the first quarter with falling production in March, pressured by vehicles at a time of intensified restrictive measures due to the resurgence of the Covid-19 pandemic in the country. In March production fell by 2.4% compared to the previous month, according to the Brazilian Institute of Geography and Statistics (IBGE).

Source: Money Times

Bradesco announces $45 bn to social and environmental initiatives

Bradesco has announced the goal of directing R$250 billion ($45 bn) to sectors and assets of positive socio-environmental impact through its businesses by 2025. The goal, according to the bank, considers the granting of credit for activities classified as having a positive contribution, financial products and services with a social and environmental focus for individuals and companies.

Source: UOL Economia

TIM sells 51% stake in fiber business for $472 mm

TIM Brasil has signed an agreement with IHS Brasil Participações for a partnership at FiberCo Soluções de Infraestrutura. IHS will hold 51% of the fiber-optic infrastructure company, which is focused on providing wholesale services, and TIM Brasil will hold the remaining 49%. HIS, a Nigeria-based telecoms infrastructure provider, will invest R$2.6 billion ($472 mm) for its stake in FiberCo. The new company will be responsible for the “last-mile” infrastructure, the final stretch to the client’s home.

Source: Valor International

Brasil Bio Fuels to invest $14.5 mm

One of the winners of the auction for isolated systems, Brasil Bio Fuels will invest around R$ 80 million ($14.5 mm) in the lots that it managed to win in the contest. The company’s president, Milton Steagall, said that BBF, which is the largest palm oil producer in Latin America, used its successful experience in Rondônia, where it has plants. The fuel will be produced in the state, generating jobs for local labour.

Source: Canal Energia